Research On The Performance Of Bluesail Medical Cross-Border M&A Of Biosensors International

As an industry closely related to the national economy and people’s livelihood,in recent years,with the aging of the population and the high-quality development of the social economy,the government has continuously issued relevant policies to encourage the medical device industry to adhere to the combination of "going out" and "bringing in".However,due to their own congenital defects,the technical level of domestic medical device enterprises is far from that of foreign countries,and the industrial concentration is not high.Therefore,how to strengthen import substitution,optimize product structure and achieve internationalization is an urgent problem for my country’s medical device enterprises.In recent years,a large number of cross-border mergers and acquisitions have occurred in my country’s medical device industry.From 2015 to 2021,there have been more than 610 mergers and acquisitions,with an annual transaction value of up to 9.394 billion US dollars.Cross-border mergers and acquisitions is one of the most effective and fast ways to solve the above problems.Through mergers and acquisitions,it can help companies break the business ceiling,graft high-tech,and occupy high-potential market segments.Bluesail Medical Co.,Ltd.is a leading enterprise in my country’s medical device industry.In 2018,Bluesail Medical spent more than 610 days to acquire Biosensors International for 6 billion yuan,which became a classic M&A case in the capital market.This acquisition has important strategic significance for Bluesail Medical.This article takes this case as the starting point.First of all,it introduces the research background and research significance of the article,and summarizes,organizes and summarizes the related research on mergers and acquisitions related theories and domestic and foreign mergers and acquisitions motivation,merger performance impact,and performance evaluation methods.Then,it systematically analyzes the current situation of mergers and acquisitions in China’s medical device industry,the development history and operation overview of the companies on both sides of the merger and acquisition,summarizes the motives of mergers and acquisitions,and explains the merger and acquisition process.Then,the short-term market performance of the M&A event is deeply researched by the event research method,and the long-term market performance is further discussed on the basis of studying the short-term performance.In terms of financial performance,this paper uses the factor analysis method to conduct a comprehensive financial performance evaluation of Blue Sail Medical,and then conducts long-term performance analysis from the perspectives of profitability,solvency,operating ability,and growth ability.Finally,according to the integration effect after the merger,it is analyzed whether the merger has achieved the purpose of the merger.At the end,the research problems of this paper are summarized,and relevant inspirations are drawn in order to be helpful to medical device enterprises.The research of this paper shows that after Bluesail Medical acquired Biosensors International,the short-term market performance was significantly improved.In terms of long-term market performance,the stock price did not change significantly but the market value was slightly higher than before the merger.In terms of financial performance,the comprehensive performance score of Bluesail Medical ranges from lower than before the merger to higher than the industry average after the merger.At the same time,the analysis of a single financial indicator shows that the profitability and growth ability of Bluesail Medical after the acquisition have improved,the solvency has rebounded,and the operating ability has been slightly worse.Moreover,after Bluesail Medical acquired Biosensors International,its business and resources have been more effectively integrated.Based on the above research results,the following inspirations are drawn:first,to capture high-quality M&A targets to achieve strategic upgrade;second,to adopt the mixed payment method of "cash+stock" to improve M&A returns;third,to strengthen R&D investment and maintain scientific research capabilities;Fourth,focus on post-merger integration and give play to synergies.